The stock has broken above the descending trendline resistance, but has found resistance at 52.80 levels. It is possible that the stock is in the process of creating an inverted head and shoulders pattern. If that's the case, we may see the price finding support around the 10-day and 30-day moving averages around 50 levels. Eventually a breakout above the neckline at 52.80 levels will likely take the stock towards 58.5 levels.
The stock is retesting the neckline of inverted head and shoulder pattern.